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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

October 20, 2008

Premiums Rise Despite Bullion Decline

     Premiums are on the rise for bullion coins, especially Gold. In the three weeks since we last printed the HD Wholesale Market Dealer Price Guide, Gold has dropped from just over $900 to a current $786 an ounce. However, the wholesale prices for circulated ten and twenty-dollar gold pieces remain about the same as it was at the end of September. One can conclude that premiums have jumped over $100 per ounce. Further, Mint State $10 Liberty and Indian Gold have increased in MS60 to MS65. Demand is also strong for Mint State $20 Liberty and St. Gaudens. Saints have increased over $100 in MS61 to MS64.

     Premiums could remain high as long as the public demands physical gold and silver at a time when the paper contracts for gold and silver have been forced downward. Buyers are currently willing to pay up to $5 or more over typical premiums for common Silver Eagles as long as they can take possession of them. Most people are afraid of a further deterioration of their savings and investment money. As long as physical products are in short supply, the premiums should continue to perform out of the normal range.

     There are several series in this week’s HD Wholesale Market Dealer Price Guide reporting lower prices. Bust Half Dollars in VF to AU list several dates adjusting downward. There have been more coins coming into the market than the current demand can handle. However, most declines are minimal and there are buyers at these slight discounts. Walkers and Franklins are also showing some softness in grades MS64 and MS65. Again, the declines are minor and there are buyers taking advantage of the bargains. It would appear that many sellers are adjusting their holding of rare coins to include additional bullion coins as a diversified measure against the current economic crisis.

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